Survey On Q Ratings For CU

[Michigander]

Hi all,

I have posted a survey to SurveyMonkey related to how appraisers view quality ratings. It is short, no place to write an answer or add an answer, but would very much like to get a lot of responses related to how appraisers view quality.

The survey is found here: https://www.surveymonkey.com/r/WFKXHHY

If you want to contribute please do. Comments can go here if you wish.

 

[miktay]

Good question.
I utilize "C" in my reports.

 

[Meandering]

Define quality without addressing price or cost

.

 

[J Grant]

Putting in a new kitchen/bath does not change the construction quality of entire house such as ext walls, roof, window type, ceiling height , materials. I voted C, line item adjustment separate for upgrades.

 

[Michigander]

Thanks guys, it really is to measure what appraisers think (the poll). May or may not jive with Fannie's CU ratings but I am trying to get a grasp on appraiser opinion. We are at 36 responses now which is still quite light.

 

[Mike Kennedy]

survey baseline/additional info needed: first describe the quality of the original kitchen and that of the non-upgraded comparable kitchens.

If NO additional current, similar, proximate and directly competitive sales exhibit similar higher quality, renovated kitchens, then the comparable search is either

a. not over

or

b. may indicate the subject's upgrades are atypical and functionally super-adequate in the subject's particular neighborhood and sub-market.

 

[BarrySW1963]

Q stays the same, and we adjust for quality if warranted on the Q line. UNLESS it was riding the border between Q5 and Q4 and the kitchen and baths bumped it over the line to the bottom of Q4. I can't see any scenario where it would bump into Q3. For the record, the overwhelming majority of what we see is Q4, as Q3 requires significant exterior ornamentation. I think we need some more well-planned surveys.

 

[Michigander]

Q stays the same, and we adjust for quality if warranted on the Q line. UNLESS it was riding the border between Q5 and Q4 and the kitchen and baths bumped it over the line to the bottom of Q4. I can't see any scenario where it would bump into Q3. For the record, the overwhelming majority of what we see is Q4, as Q3 requires significant exterior ornamentation. I think we need some more well-planned surveys.

Yeah, maybe not the best planned survey, but it gets to the meat of it. Thanks for contributing here - hope you jumped in on the survey

 

[BarrySW1963]

Yeah, maybe not the best planned survey, but it gets to the meat of it. Thanks for contributing here - hope you jumped in on the survey

Sorry, that wasn't meant as a ding on your survey. Rather, we need MORE, and ones that really get into the nitty gritty.

 

[Michigander]

Sorry, that wasn't meant as a ding on your survey. Rather, we need MORE, and ones that really get into the nitty gritty.

Oh that is okay. I am not very savvy with these surveys but I think they are good to do to see what people are thinking.

We are up to 60 responses now. Would love to hit a couple hundred.